Madoff to Plead Guilty

Ponzi

Updated Apr. 25, 2017 3:58PM EDT / Published Mar. 11, 2009 2:19AM EDT

Louis Lanzano / AP Photo

Bernard Madoff’s scheming began over 20 years ago. It ends today, with the financial conman expected to plead guilty to all criminal charges against him. It came to light this week that Madoff sustained the scheme by creating false and fraudulent documents and moving millions of dollars between banks to create an illusion of trading. The 11 felonies against him include securities fraud, money laundering, and perjury. He faces up to 150 years.

Read it at The New York Times

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Madoff to Plead Guilty

Louis Lanzano / AP Photo